Markets Wary on Mexico Fiscal Reform

Sep 10, 2013

Plans to overhaul Mexico’s fiscal system met a mixed reaction Monday as analysts digested the watered down reform which could mean a total public deficit as high as 3.5% of GDP for 2014. Luis Videgaray, Mexican finance minister, announced plans Sunday to increase the top individual tax rate, introduce a capital gains tax and lower the rate levied on Pemex, as part of a broader fiscal reform package which he first outlined in an interview with...